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'Outlook for Jamaica Remains

Positive'- JN Bank Executive

Petal James, chief of in JN Bank from Canada, money
branches at JN Bank transfer services, and paying
says despite the many property taxes through JN Bank “
were discussed.
financial and social Miss James, who was guest
setbacks, caused by speaking at the first information Emile Spence, chief representative officer, said the plan is to host a
the COVID-19 global session held this month, told the series of monthly meetings to keep JN Bank members informed and
pandemic, the outlook audience that JN Bank continues to up to date about financial happenings in Jamaica.
be competitive in the mortgage
for Jamaica remains market and the commercial "The meetings will be facilitated by and hosted through various
positive, with several banking space, pointing out that Jamaican-Canadian community organisations so that we can
opportunities for the company's mortgage product directly connect with our customers and members," he said.
investment and growth offerings remain attractive for local T opics of interest, such as the various services offered by
on the horizon. and overseas investors. The Jamaica National Group, banking in Jamaica in the
She further noted that industries,
such as construction and real pandemic, saving in JN Bank from Canada, money transfer services,
Miss James, who was speaking at a estate remain solid in Jamaica, for and paying property taxes through JN Bank were discussed.
recent virtual information session i n s t a n c e a s d e m a n d f o r
hosted by the JN Bank Canada commercial and residential real
Representative Office and the estate remains high and interest
Jamaica Association of Montreal, rates on mortgages are still low. pandemic, figures for January this therefore, Jamaica is withstanding remittances have increased by
said the country is still positioned She further posited that tourism year show that the unemployment the storm fairly well," Miss James nearly two-fifths since the
to move forward. would rebound, adding that when rate has improved, reducing to 8.2 said. pandemic.
"We are optimistic that those it does, property owners could per cent from 12.3 per cent in July She said Bank of Jamaica data for Miss James invited persons to visit
sectors worst affected, and the realise significant returns on their 2020. January 2021 show Jamaica's Net for further information on
stock market, will all rebound. In real estate investments. "The decisions of the past three International Reserves are robust mortgage financing and other
Jamaica, even as our highest earner, "Beyond the construction of administrations have prepared the with more than US$3 billion set
the tourism industry, faces its buildings, road improvement country for these times and, aside to respond to shocks and banking opportunities.
greatest challenge in its history, projects continue, with the
there are many opportunities extension of the Highway 2000
lurking, as aspects of the economy from May Pen, Clarendon to
are buoyant," she said. Williamsfield, Manchester, which
The virtual information session will only further increase the price
was held in the absence of face-to- of real estate in parts of Clarendon
face meetings, due to restrictions and Manchester and the quality of
imposed because of the global your investment," she informed.
p a n d e m i c a n d a s e r i e s o f Miss James also added that the
lockdowns in Canada. construction of the Montego Bay
Emile Spence, chief representative B y p a s s s h o u l d a l s o s p u r
officer, said the plan is to host a development in other parts of St
series of monthly meetings to keep James and Hanover.
JN Bank members informed and The development of the highway
up to date about financial from St Thomas to Portland, has
happenings in Jamaica. already begun to increase property
"The meetings will be facilitated by values in St Thomas, she said.
and hosted through various "Jamaica is down, but not out, as
Jamaican-Canadian community other indices indicate that the
organisations so that we can economy is holding its own," Miss
d i re c t ly co n n e c t w i t h o u r James pointed out.
customers and members," he said. She informed that unemployment
Topics of interest, such as the figures from the Statistical
various services offered by The Institute of Jamaica show that
Jamaica National Group, banking although many faced job cuts and
in Jamaica in the pandemic, saving layoffs in the early months of the